Volkswagen CEO: 100,000 cars lost due to chip shortage

FILE PHOTO: A technical employee works at the production line for the electric Volkswagen model ID. 4, in Zwickau, Germany, September 18, 2020. REUTERS/Matthias Rietschel

FRANKFURT (Reuters) - Volkswagen was unable to build 100,000 cars due to an ongoing chip shortage that has hit the automotive sector this year, Chief Executive Herbert Diess said, adding the group would not be able to make up for the shortfall in 2021.

Diess, speaking at Volkswagen’s annual press conference, said that the carmaker would secure future chip supply via direct agreements with semiconductor suppliers, marking a strategic departure outlined earlier this year.

Reporting by Christoph Steitz; Editing by Michael Nienaber